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06 | Annual Review 2016/17
Sigma Pharmaceuticals Limited
CEO AND MANAGING DIRECTOR’S REPORT CONTINUED
Is there something that investors don’t
understand about Sigma?
I think there has been this perception that
Sigma had no growth. It has been a slow
and steady build, so I think some investors
did have difficulty in understanding where
our growth was coming from and in what
direction we were heading. There is not
one single driver of our growth. It comes
collectively from organic growth, from
business improvement, and from acquisitions.
As we mature as a business we will continue
to evolve and improve our reporting to
develop the market’s understanding of
Sigma and the growth strategies.
Does your previous profit guidance
still stand?
Yes it does. In March 2016 we provided
guidance of at least 5% growth in
underlying EBIT for the next two financial
years, being the year to January 2017
and January 2018. At our AGM in May we
upgraded our 2017 guidance to 10% and
maintained our 2018 guidance. We have
just delivered 12.4% underlying EBIT growth
for this year, which is a terrific result. So
even though it will be off a bigger base,
we believe we can deliver 5% underlying
EBIT growth in 2018.
Any final messages you want to send
to stakeholders?
I do just want to thank those investors who
have supported us over the last few years.
It has at times been a gradual process, but
they are now seeing the rewards. We have
a clear vision of where we want to head
and clear strategic direction, and I think we
have the right team in place to deliver it.
This clear strategy leads in to the change
of company name and logo that we are
currently undergoing. Sigma has a very
long and proud history that we continue to
embrace. However, the business has evolved
and we found having pharmaceuticals
in our name clouded views about our
core business, which Sigma Healthcare
addresses. Our existing logo had been in
use for almost 20 years, and again it was
closely linked with pharmaceuticals, which
the new logo addresses whilst retaining
our corporate colours. Finally, I think
“Connecting health solutions” really defines
what our end-to-end business is about.
We have fantastic suppliers, customers,
pharmacists and other business partners,
so Sigma can play a major role in bringing
innovative and integrated health-driven
programs and solutions across the
healthcare supply chain.
Mark Hooper
CEO & Managing Director